Quote:
Originally Posted by Cockatooz
That's really useful tax info, thanks.
Can anyone also advise re: tax succession ie if a married couple who are not Moroccans purchase a property in joint names, does the property automatically pass the the surviving spouse? Does this happen automatically with or without a will
Thanks
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This is not strictly regarding the tax issues but you should make a will if you hold any assets in Morocco. A wife will not necessarily inherit the husband's estate...if for example she has sons. Also for those with children, moroccan law allows for an equable split of the estate if the children are all boys...but if you have daughters, their "portion" must be explicitly stated. or they will not be treated as equal to the sons.
Re the actual practise in the field so to speak.... it is quite common for the purchase price to be under declared. (this is on older traditional properties) Also if you are buying one od theses types of properties as opposed to new build, you must check the tax situation of the sellers. We checked on 2 houses we bought last year & discovered that in both cases the owners had not paid tax for 13 years. Needless to say the tax was taken from the purchase price by the adul to settle the bill before we agreed to proceed!